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mikedue54
New Member

My daughter received 241.00 scholarship for dual-credit classes in high school. She paid 963.00. Why does TurboTax say the scholarship amount exceeds the expenses?

 
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1 Reply
Hal_Al
Level 15

My daughter received 241.00 scholarship for dual-credit classes in high school. She paid 963.00. Why does TurboTax say the scholarship amount exceeds the expenses?

What's in boxes 1 & 5 on her form 1098-T? 

The 1098-T is only any informational document. The numbers on it are not required to be entered onto your tax return. 

If you claim the tuition credit, you do need to report that you got one or that you qualify for an exception (the TurboTax interview will handle this)

You claim the tuition credit, or report scholarship income, based on your own financial records, not the 1098-T. In the 1098-T screen, click on the link "What if this is not what I paid the school" underneath box 1. You will then be able to enter the actual amounts paid. 

 

Be careful about trying to claim the American Opportunity tax credit (AOTC) for this type of education.  You are only allowed to claim it 4 times.  Most parent's will save it for college when it will be worth up to $2500 per year. There is a lesser credit or deduction available for dual credit courses. 

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